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Mortgages (Tax Relief)

Volume 886: debated on Wednesday 19 February 1975

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asked the Chancellor of the Exchequer what is his estimate of the gain to the revenue of restricting tax relief on loans for house purchase and improvement to relief at the basic rate of tax.

The gain for a full year, on the basis of estimated 1974–75 incomes and current tax rates, would be about £25 million.